……Eswatini now has one of the lowest IMF debts in Africa.
BY MBONGENI NDLELA
MBABANE – In a bold move that shows smart financial leadership, Eswatini has cut its debt to the International Monetary Fund (IMF) by more than half—from E723 million down to E361 million.
That’s like paying off half your loan in just a few months.
Thanks to this major move, Eswatini is now ranked second in Africa for having the lowest IMF debt, only behind Lesotho. This shows the country is managing its money wisely and taking control of its future.
IMF Debt in Dec 2024 vs March 2025]
| Month | IMF Debt (USD) | IMF Debt (E) |
| Dec 2024 | $39.25 million | E723 million |
| March 2025 | $19.63 million | E361 million |
What This Means:
- More freedom for government to spend on local projects—without being tied to strict international rules.
- More investor confidence—businesses are more likely to invest in a country that handles its debt well.
- ️ Stronger economy—when debt is low, growth becomes possible.
Where Did the Previous Loan Go?
The IMF loan was not wasted! It helped build important things that affect real people every day:
- ⚡ New electricity line: Nhlangano to Lavumisa (132kV)
- Water supply for Mhlosheni and Zombodze Emuva
- Support in health, energy, and education projects
Who Else is Doing Well?
Eswatini now ranks better than countries like:
- Comoros
- São Tomé & Príncipe
- Djibouti
Only Lesotho, with a debt of $11.66 million, is ahead of us. But we’re catching up fast!
Top 5 African Countries with Lowest IMF Debt]
| Country | IMF Debt (USD) |
| Lesotho | $11.66 million |
| Eswatini | $19.63 million |
| Comoros | $22.1 million |
| São Tomé & Príncipe | $24.5 million |
| Djibouti | $28 million |
Did You Know?
The total debt for the country is currently E35.6 billion, which is only 37.3% of our GDP—well below the 45% limit set by the Ministry of Finance to keep things stable.
This gives government room to:
- Build more infrastructure
- Empower businesses
- Create jobs
A Nation on the Rise!
Reducing the IMF debt is not just a number game—it means Eswatini is ready for bigger things. With smarter borrowing and spending, we’re becoming a stronger, more resilient economy.
Let’s keep the momentum going
Eswatini is proving to the world that small nations can make BIG moves with the right mindset and leadership.
